| RULEMAKING ACTION: |
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Notice of proposed PERMANENT rulemaking
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| PROPOSED RULES: |
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Subchapter 9. Individual Proceeding Practices and
Procedures
660:2-9-1. Hearings in general [AMENDED]
660:2-9-2. Initiation of individual proceedings
[AMENDED]
660:2-9-3. Prehearing proceedings and processes
[AMENDED]Subchapter 11. Procedures for
Inspecting and/or Copying Public Records
660:2-11-1. Purpose [AMENDED]
660:2-11-2. Definitions [AMENDED]
660:2-11-3. Record custodians [AMENDED]
660:2-11-5. Procedures for inspection of records
[AMENDED]
660:2-11-6. Procedures for copying records [AMENDED]
Subchapter 13. Declaratory Rulings and
Interpretive Opinions
660:2-13-1. OpinionsInterpretative
opinions, no-action letters, and discretionary orders of
exemption [AMENDED]
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| SUMMARY: |
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The proposed rule amendments specify the applicable
statutory provisions for summary orders that are not
subject to the general hearing procedures; provide that
the Administrator may enter an agreed scheduling order
in addition to setting the hearing date or denying the
hearing; amend the description of records that a records
custodian is responsible for; update the process for the
public to request inspection or copying of records;
clarify the process for requesting interpretive
opinions, no-action letters and discretionary orders of
exemption; correct or remove statutory cites and
terminology; and correct scrivener and numbering errors.
The Administrator finds that the subject new rule and
rule amendments are necessary or appropriate in the
public interest or for the protection of investors and
are consistent with the purposes intended by the
Oklahoma Uniform Securities Act of 2004.
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| AUTHORITY: |
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Administrator, Oklahoma Department of Securities; 71 O.S.
§§1-605 and 1-608
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| COMMENT PERIOD: |
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Persons wishing to present their views in writing may do so before 4:30
p.m., January 16, 2024, at the Oklahoma Department of Securities, City
Place, 204 North Robinson Avenue, Suite 400, Oklahoma City, OK
73102-7001.
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| PUBLIC HEARING: |
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A public hearing will be held at 1:30 p.m. on Thursday,
January 23, 2025, to provide an opportunity for persons
to orally present their views. The hearing will be held
in the conference room at the Oklahoma Department of
Securities, 204 North Robinson Avenue, Suite 400,
Oklahoma City, OK, and virtually. Information to access
the hearing virtually will be posted on the Department's
website, www.securities.ok.gov, at least three days
prior to the hearing, or you may contact the Department
at 405-280-7700 for the access information. Should you
wish to speak during the hearing, please sign in at the
door or log in virtually by 1:15 p.m. and post your
name, phone number, email address, and name of the
person you are representing, if any, in the chat box.
Each person will be allowed a maximum of 10 minutes to
speak.
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| REQUEST FOR COMMENTS FROM BUSINESS ENTITIES: |
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Business entities should evaluate the effect of the
proposed rule amendments upon their business operations.
The Department requests that business entities that may
be affected by the proposed rule amendments provide the
Department, within the comment period, in dollar
amounts, if possible, any increase in the level of
direct costs, indirect costs, or other costs expected to
be incurred due to compliance with the proposed rule
amendments. Business entities may submit this
information in writing to Gerri Kavanaugh, at the above
address, before the close of the comment period on
January 16, 2025.
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| COPIES OF PROPOSED RULES: |
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The public may access copies of the proposed new rule
and rule amendments on the Department’s website at
www.securities.ok.gov or obtain copies for review
between 8:30 a.m. and 4:30 p.m., Monday through Friday,
at the offices of the Oklahoma Department of Securities,
City Place, 204 North Robinson Avenue, Suite 400,
Oklahoma City, OK 73102-7001, or by calling (405)
280-7700.
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| RULE IMPACT STATEMENT: |
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A rule impact statement will be available as of December
31, 2024, from the Oklahoma Department of Securities
(address, telephone number, times, and website as listed
above).
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| CONTACT PERSON: |
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Gerri Kavanaugh, General Counsel, Oklahoma Department of Securities, (405) 280-7721
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